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10/6/09

Crown Point Ventures (CWV.v): Very bullish news

After the bell yesterday Crown Point Ventures (CWV.v) released this PR that explained just how very, very well its three drilled wells at El Valle in Argentina are running. You need to read it for yourself and consider the barrel numbers in light of the company market cap (subscribers to The IKN Weekly got the breakdown as I see it in a Flash update last night) but the result is that the stock this morning has done this:

Yep, that's 30% up, and every percentage point well deserved, guys. Congrats.

It's not often that in the trappy, risky world of small O&G drillers that a company hits three from three and gets all-but optimum results from its program. CWV.v has knocked one out the park here and will surely continue up.

Disclosure: I own a few and I've been on this case for IKN Weekly readers for the last 10 weeks so it's likely some subbers are long too, so DYODD dude. I really mean it. It's your money.